23 May 2014
USD/JPY backs away from highs
FXStreet (Córdoba) - The USD/JPY retreated from daily highs and is trading lower for the day as the Nikkei closes off highs amid pre-weekend position adjustments.
After reaching a fresh 8-day high of 101.85 during the Asian session, the USD/JPY faced mild pressure and surrendered gains, sliding to a fresh low of 101.59 in recent dealings. At time of writing, the pair is trading at the 101.65 zone, 0.08% below its opening price. From a wider view however, the USD/JPY has recovered roughly a yen from its 3 ½-month low of 100.81 scored Wednesday in the wake of Kuroda optimistic words.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find next resistances at 101.85 (May 23 high), 102.10 (May 15 high) and 102.50 (100-day SMA). On the other hand, supports could be found at 101.35 (May 22 low) and 101.20 (200-day SMA) ahead of 100.75 (May 21 low).
After reaching a fresh 8-day high of 101.85 during the Asian session, the USD/JPY faced mild pressure and surrendered gains, sliding to a fresh low of 101.59 in recent dealings. At time of writing, the pair is trading at the 101.65 zone, 0.08% below its opening price. From a wider view however, the USD/JPY has recovered roughly a yen from its 3 ½-month low of 100.81 scored Wednesday in the wake of Kuroda optimistic words.
USD/JPY technical levels
In terms of technical levels, the USD/JPY could find next resistances at 101.85 (May 23 high), 102.10 (May 15 high) and 102.50 (100-day SMA). On the other hand, supports could be found at 101.35 (May 22 low) and 101.20 (200-day SMA) ahead of 100.75 (May 21 low).